Sony announces plans to invest $644mln in OlympusSeptember 28, 2012 - 15:26 AMT PanARMENIAN.Net - Sony has announced plans to invest ¥50 billion ($644 million) in struggling camera maker Olympus as part of a new joint venture in medical imaging, The Verge reports. The partnership, which will see Sony take an 11 percent stake in the company as a whole, will allow the two firms to combine Olympus's dominance in the niche area. The two firms also plan to collaborate in their consumer camera businesses, with Sony providing sensors and Olympus offering new lenses and mirror cell technology in return. The investment, which has been rumored since June, comes after months of turmoil at Olympus following an accounting scandal which emerged late last year. While Olympus has not yet announced the agreement, Sony has provided a detailed overview of the medical joint venture, in which it will take a 51 percent stake, appointing four of the seven directors. One of the possible product areas that could emerge from the venture is listed as "new surgical endoscopes with 4k (or higher) resolution or 3D function," with the announcement also mentioning fully-integrated imaging systems for operating theaters. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Mirzoyan says meeting with Bayramov was “constructive” At the moment, Ararat Mirzoyan said, there is no basis for additional comments. OSCE vows support for Armenia “in all three directions of security” Achieving stable peace between Armenia and Azerbaijan remains a priority of the OSCE, said Ian Borg. 151 detained as civil disobedience campaigns continue in Yerevan Citizens have been blocking streets in the Armenian capital, demanding Nikol Pashinyan’s resignation. France welcomes Armenia-Azerbaijan meeting in Almaty France has welcomed the new round of negotiations between the foreign ministers of Armenia and Azerbaijan. |